Section 159 — Corporation Tax Act 2009: Disposals not made in the course of trade

Disposals not made in the course of trade 159 1 This section applies if—

a trading stock of a trade is disposed of otherwise than in the course of the trade, and b section 157 does not apply.

2 In calculating the profits of the trade—

a the amount which the stock disposed of would have realised if sold in the open market at the time of the disposal is brought into account as a receipt, and b any consideration obtained for it is left out of account.

3 The receipt is treated as arising on the date of the disposal.

4 This section is subject to section 161.